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What's the best way that someone should pay off this credit card scenario?

Asked by SeventhSense (18914points) December 29th, 2009

I have a handful of cards and I want to pay them down and eliminate interest etc. I need to keep at least 1500 credit on hand though for business use. For example card 1 was used this month for $3345 in resale purchases What would be my best approach with this scenario?
First is the balance, second is the credit limit on the account and in parenthesis is the minimum monthly payment due.

For all you math guys/gals out there(definitely not me), assuming I can make $1100.00 in payments and these are all due at beginning of month what would be my best approach?

card 1— 5853.56- 6500 limit- 9.82%(77 min.)
card 2— 295.03- 300.00 limit-17.29%(15 min.)
card 3— 1573.24-none available card closed-12.15%(36 min.)
(Card closed but still make payments)
card 4— 828.91- 1100 limit- 26.99%(32 min.)
(HOLY S$%T! is this legal?)
card 5— 433.00- 500 limit- 3.9%(20 min.)

I can think of a variety of solutions but I’d love to hear some different or creative solutions to managing and using credit. And although eliminating some has always been an option,some of us by nature of our business and cash flow need credit.

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